Financial Performance - Total revenue decreased by approximately HKD 99.0 million or 34.2% to about HKD 190.2 million for the six months ended September 30, 2022, compared to approximately HKD 289.2 million for the same period in 2021[6] - Loss attributable to owners of the company decreased by approximately HKD 2.0 million or 31.8% to about HKD 4.2 million for the six months ended September 30, 2022[6] - Revenue from private sector projects was approximately HKD 170.8 million, accounting for about 89.8% of total revenue, down from 95.0% in the previous year[6] - Revenue from public sector projects increased to approximately HKD 19.4 million, representing about 10.2% of total revenue, up from 5.0% in the previous year[6] - Gross profit decreased by approximately HKD 1.0 million or 49.0% to about HKD 1.0 million, with gross margin dropping from approximately 0.7% to 0.5%[17] - The overall performance was negatively impacted by the competitive building template industry and delays in project commencement due to the COVID-19 pandemic[9] - The company reported a loss before tax of HKD 4,238,000, an improvement from a loss of HKD 6,216,000 in the prior year[64] - The company reported a loss of HKD 4,238,000 for the six months ended September 30, 2022, compared to a loss of HKD 6,216,000 for the same period in 2021, representing a 31.9% improvement in losses year-over-year[98] Contracts and Projects - The group secured four new contracts during the review period, with a total contract value of approximately HKD 242.9 million[7] - The group generated approximately HKD 7.5 million in revenue from three public housing template engineering contracts during the review period[12] Income and Expenses - Other income increased from approximately HKD 1.618 million to approximately HKD 5.862 million, a growth of about 262.3% due to government subsidies of approximately HKD 15.2 million and fair value losses on securities investments of approximately HKD 10.6 million[18] - Other losses rose from approximately HKD 3,000 to approximately HKD 6,000, primarily attributed to net foreign exchange losses[19] - Administrative expenses increased from approximately HKD 8.6 million to approximately HKD 9.9 million, reflecting a rise of about 14.7% due to increased leasing equipment costs[20] - The company recognized government grants of HKD 15,205,000 during the six months ended September 30, 2022, with no such grants reported in the previous year[91] Cash and Liquidity - As of September 30, 2022, the group had cash and cash equivalents of approximately HKD 99.0 million, down about 27.4% from HKD 136.4 million as of March 31, 2022, due to increased securities investments and direct costs[25] - The capital-to-equity ratio as of September 30, 2022, was approximately 100.1%, up from about 97.1% as of March 31, 2022[25] - The group maintained a prudent funding and treasury policy, with surplus funds deposited in licensed banks to manage liquidity risk[26] - The net cash used in operating activities was HKD (1,070,000), a significant improvement from HKD (15,898,000) in the same period of 2021[75] - Total cash and cash equivalents decreased to HKD 99,035,000 from HKD 165,217,000 year-over-year, reflecting a decline of 40%[75] Employee and Management - The group employed 902 employees as of September 30, 2022, a decrease from 1,152 employees as of September 30, 2021, primarily due to project completions[42] - Total salary costs recognized in the profit and loss for the six months ended September 30, 2022, amounted to approximately HKD 125.6 million, down from approximately HKD 145.2 million for the same period in 2021, reflecting a decrease of about 13.2%[42] - The total compensation for key management personnel for the six months ended September 30, 2022, was HKD 3,319,000, a decrease from HKD 3,578,000 in the prior year[113] Assets and Liabilities - Total assets decreased to HKD 346,131,000 as of September 30, 2022, from HKD 379,276,000 as of March 31, 2022[67] - Current liabilities decreased to HKD 194,512,000 from HKD 222,405,000, indicating improved liquidity[67] - The net asset value as of September 30, 2022, was HKD 149,986,000, down from HKD 154,224,000 as of March 31, 2022[69] - Trade receivables increased to HKD 39,129,000 from HKD 34,394,000, a rise of 13.4%[100] - Contract assets decreased to HKD 117,662,000 from HKD 126,088,000, a decline of 6.5%[102] - Trade payables decreased significantly to HKD 3,289,000 from HKD 13,491,000, a reduction of 75.6%[104] Governance and Compliance - The company has complied with all relevant corporate governance code provisions during the six months ended September 30, 2022[50] - The audit committee, composed of three independent non-executive directors, has reviewed the financial information and interim results announcement for the six months ended September 30, 2022[52] Investments - The group’s major investments included a 0.0079% stake in Hong Kong Exchanges and Clearing Limited, with a fair value decrease of approximately HKD 6.304 million[31] - The group’s investments in major companies did not constitute more than 5% of total assets, with Hong Kong Exchanges and Clearing Limited representing 7.8% of total assets[37] Future Outlook - The company plans to continue exploring new clients and implementing strict cost control measures to maintain competitiveness[12] - The company has no major future investment or capital asset plans beyond those disclosed in the prospectus dated May 31, 2017[41]
建成控股(01630) - 2023 - 中期财报